charity finance salary survey 2016
CHARITY FINANCE SALARY SURVEY 2016
INTRODUCTION Welcome to our annual finance salary survey for finance and accountancy professionals in the not for profit sector. As a niche recruiter, recruiting only for the not for profit sector, TPP have compiled this survey using responses from our large network of candidates and clients, together with data from vacancies over the last year. This report aims to benchmark salaries across the sector, allowing employees to compare their salary against averages and giving employers a standard when budgeting for new roles. Please see the full data tables at the end of this report for detailed average statistics by seniority, type, size and location of organisation and type of employment contract. SALARIES BY JOB LEVEL Average salary (£) 2016 2015 Director £66,637 £65,207 Head of £51,977 * Manager £38,245 £42,369 Accountant £36,864 £38,490 Officer £26,303 £26,342 Assistant £23,560 £24,873 TOTAL £40,587 £36,473 * This category is new to our 2016 survey
% change 2% -12% -4% -1% -5% -4%
WHAT’S HAPPENING TO FINANCE SALARIES? SUMMARY OF RESULTS
Salaries in larger organisations are on average 14% higher than within medium or small Permanent staff earn 5% more than temporary staff
Females earn 20% less than males
Staff at Membership, Hospices and Art, Culture & Heritage organisations have the highest salaries
http://www.tpp.co.uk/
020 7198 6000
RESPONSIBILITY FOR NON-FINANCE DEPARTMENTS
58% of Finance Directors have responsibilities for other disciplines, including IT, Compliance, Legal and Properties/Facilities Properties/Facilities and IT remains the most common extra responsibility from 2015 Further responsibilities mentioned include marketing, legacies, grants, admin and fundraising
25%
24% 17%
17%
16%
FUNCTIONS BY JOB LEVEL
19%
Accounting
12%
8%
23%
24%
15%
19%
Budgeting & forecasting
25%
11%
2% 1%
3%
5%
2% 2%
Manager
28%
10%
Accountant 41%
21%
Compliance
Head of 35%
20%
Business/Financial analysis
1% 2%
6%
Assistant 47%
23%
6%
19%
Financial planning & analysis
3% 0%
http://www.tpp.co.uk/
Officer
27%
21%
Financial management/Control
Director
41%
12%
5% 10%
37%
24%
20%
020 7198 6000
30%
40%
50%
QUALIFICATIONS
61% of respondents are fully qualified
21% are part qualified
18% are qualified by experience
30% hold an ACCA qualification
27% hold an ACA qualification
16% hold a CIMA qualification
INCENTIVES Benefits received
Results have stayed consistent from 2015, where pension contribution is the most commonly received benefit The average amount of holiday received is 26 days which has decreased from 27 in 2015.
http://www.tpp.co.uk/
020 7198 6000
Desired benefits
5. Life Insurance
2. Pension contributions 4. Time off / voluntary / trusteeships
1. Flexible working hours 3. Medical insurance
8. Childcare vouchers 7. Season ticket loans
6.Secondment /Sabbatical
9. Car allowance
This year, flexible working hours has overtaken pension contributions as the most desired benefit
SALARY CHANGE OVER THE PAST YEAR 46%
50%
41%
46% of respondents reported that their salaries stayed the same over the past year, while 46% saw an increase. In comparison to 2015 results which showed the largest percentage having a salary increase, 2016 shows that the majority of respondent’s salaries have stayed the same.
40% 30% 20% 10%
5%
5%
3%
0% Increased a lot
Increased a little
Stayed the same
Decreased a Decreased a little lot
“Charity sector needs to develop the same strategy as private sector, we are skilled professionals, not volunteers” “General pressure on the economy, but sector is still growing” “Finance professionals are wary of asking for more money whilst arguing for tight cost controls”
http://www.tpp.co.uk/
020 7198 6000
THINKING ABOUT YOUR PREVIOUS ROLE DID YOU WORK FOR?
This shows a similar trend between 2015 and 2016 results, which shows an increasing number of finance professionals moving from the private sector.
MOTIVATORS Our respondents were asked what would be their motivations for seeking a new role.
Most popular motivators
Higher salary
Better work/life balance
More interesting role
Better relationship with manager
Better job security
Least popular motivators Training & development opportunities
http://www.tpp.co.uk/
020 7198 6000
METHODOLOGY This is the second TPP finance salary survey for finance professionals in the not for profit sector. The salaries used in this report were compiled using information from 181 respondents from March-April 2016, and existing data from 216 database records during 2015-16. Responses came from the following profiles.
51% Female 15% Director
48% Male
13% Head of
1% Unknown
23% Business Partner 19% Manager
88% Permanent
18% Officer/ Advisor/ Executive
5% Temporary/ Interim
12% Assistant/Admin
6% Contract
ABOUT TPP RECRUITMENT
1% Unknown
TPP Recruitment is a specialist recruitment consultancy working with organisations in the non-profit sector, including charities, professional membership bodies and cultural institutions, as well as education, health and social care providers. Established in 1996, we use our experience, knowledge of the sector and shared values and principles to meet our clients’ recruitment needs. All our consultants are sector specialists, able to offer the best advice and service to both our candidates and clients. TPP`s divisions cover the full breadth of charity roles. TPP`s HR, Office & Specialist Team have both the experience and the expert knowledge of the not for profit sector needed to provide our clients with consistently high-quality HR professionals. We recruit candidates with a wide range of skills, to all levels of vacancy from Assistant to Director.
Contact us T:020 7198 6050
http://www.tpp.co.uk/
E: [email protected]
020 7198 6000
DATA TABLES Type of organisation
Organisation Type Assistant Animals Arts, Culture and Heritage Cancer £21,500 Children Disability £26,000 Education £32,000 Environment Health £26,550 Homelessness Hospices Housing £23,370 Human Rights International Aid Membership £27,500 Older People Other £24,733 Society & Work Sport Think tank/ Policy Unknown Grand Total £25,528
Officer £30,000 £25,000 £30,425
Accountant Manager £37,667 £38,500 £36,133
£30,000 £32,000
£29,000
£18,000 £32,291
£23,500 £26,000
£28,281
£33,000 £43,487 £37,500 £36,854 £43,000 £41,565 £56,000 £37,758
£37,667 £43,000 £42,860 £29,300 £34,730 £33,250 £47,417 £35,000 £36,125 £38,269 £35,057 £44,375 £37,000 £37,944
£51,200 £63,000 £39,800
Head of £41,544 £60,118 £65,000 £51,807
Director £65,000 £64,773 £50,250 £115,000
£107,000 £42,000 £53,550
£59,380
£42,934
£49,667 £46,500 £57,917
£71,139 £51,000 £62,927 £65,000 £63,500 £80,650 £62,500 £70,000 £51,000
£40,000 £54,000
£99,000
£54,422
£68,293
Type of role Level
Full time
Part time
Total Average
2015
Director
£68,024
£69,167
£68,293
£66,325
Head of
£54,764
£52,938
£54,422
Manager
£40,944
£35,351
£39,800
£44,858
Accountant
£38,672
£35,274
£37,758
£39,794
Officer
£29,630
£23,333
£28,281
£25,492
Assistant
£25,318
£26,685
£25,528
£25,573
Grand Total
£48,575
£47,079
£48,251
£49,315
http://www.tpp.co.uk/
020 7198 6000
Total Average £44,522 £50,377 £44,938 £48,914 £32,740 £48,022 £36,167 £47,067 £43,000 £51,228 £29,477 £42,543 £45,372 £62,732 £49,875 £47,694 £41,000 £42,000 £65,994 £59,500 £48,251
2015 £57,000 £50,786 £58,950 £49,684 £56,600 £49,234 £45,100 £48,828 £40,750 £55,000 £64,785 £51,362 £60,794 £53,250 £44,755 £36,750 £40,000 £32,400 £49,315
Gender Level
Female
Male
Total Average
2015
Director
£63,269
£70,386
£68,293
£66,325
Head of
£52,741
£56,326
£54,422
Manager
£39,194
£42,156
£39,800
£44,858
Accountant
£38,021
£37,640
£37,758
£39,794
Officer
£27,593
£30,000
£28,281
£25,492
Assistant
£26,284
£24,320
£25,528
£25,573
Grand Total
£43,095
£53,762
£48,251
£49,315
Type of contract
Level Director Head of Manager Accountant Officer Assistant Grand Total
Contract £54,000 £57,975 £39,210 £26,500 £21,000 £43,051
Permanent £68,269 £53,663 £39,861 £37,302 £29,285 £25,906 £48,723
Temporary/Interim £98,000 £65,000 £39,500 £41,253 £25,041 £46,205
Total Average £68,293 £54,422 £39,800 £37,758 £28,281 £25,528 £48,251
2015 £66,325 £44,858 £39,794 £25,492 £25,573 £49,315
Size of organisation Small (1-10 employees)
Medium (11 100 employees)
Large (100+ employees)
Director Head of Manager Accountant Officer
£60,000 £41,800 £36,324 £38,130 £30,000
£63,904 £51,495 £35,616 £35,247 £28,919
£74,748 £64,055 £44,008 £37,996 £27,250
Assistant
£28,750
£26,000
£24,837
Grand Total
£37,456
£48,640
£50,081
Level
http://www.tpp.co.uk/
020 7198 6000
Unknown
£63,000 £56,000
£59,500
Total Average
2015
£68,293 £54,422 £39,800 £37,758 £28,281
£66,325
£25,528
£25,573
£48,251
£49,315
£44,858 £39,794 £25,492
Our Divisions Education & Training Facilities Finance & Accountancy Fundraising & Development Healthcare HR IT Marketing & Communications Office & Specialist Support Regional Recruitment Social Care & Housing Senior Appointments
Head Office T: 020 7198 6000 E: [email protected]
4th Floor, Sherborne House 119-121 Cannon Street London EC4N 5AT
Small (NorthMedium (11 North Large & Scotland – FR & Marcomms roles) North Office of England, Wales (1-10 100 (100+ T: 0191 229 9595 Collingwood Buildings Level employees) employees) 2015 E: [email protected] 38 Collingwood Street employees) Unknown Grand Total Director £60,000Newcastle £63,904 £74,748 £68,293 £66,325 Upon Tyne NE1 1JF Head of £41,800 £51,495 £64,055 £54,422 South Office Central South, East Anglia£63,000 & South Wales£39,800 – FR & Marcomms roles) Manager £36,324(South West, £35,616 £44,008 £44,858 T: 0117 360 1317 Accountant £38,130CityPoint£35,247 £37,996 £56,000 £37,758 £39,794 E: [email protected] Temple Gate Officer £30,000 £28,919 £27,250 £28,281 £25,492 Bristol BS1 6PL Assistant £28,750 £26,000 £24,837 £25,528 £25,573 Grand Total
£37,456
http://www.tpp.co.uk/
£48,640
£50,081
020 7198 6000
£59,500
£48,251
£49,315
INTRODUCTION Welcome to our annual finance salary survey for finance and accountancy professionals in the not for profit sector. As a niche recruiter, recruiting only for the not for profit sector, TPP have compiled this survey using responses from our large network of candidates and clients, together with data from vacancies over the last year. This report aims to benchmark salaries across the sector, allowing employees to compare their salary against averages and giving employers a standard when budgeting for new roles. Please see the full data tables at the end of this report for detailed average statistics by seniority, type, size and location of organisation and type of employment contract. SALARIES BY JOB LEVEL Average salary (£) 2016 2015 Director £66,637 £65,207 Head of £51,977 * Manager £38,245 £42,369 Accountant £36,864 £38,490 Officer £26,303 £26,342 Assistant £23,560 £24,873 TOTAL £40,587 £36,473 * This category is new to our 2016 survey
% change 2% -12% -4% -1% -5% -4%
WHAT’S HAPPENING TO FINANCE SALARIES? SUMMARY OF RESULTS
Salaries in larger organisations are on average 14% higher than within medium or small Permanent staff earn 5% more than temporary staff
Females earn 20% less than males
Staff at Membership, Hospices and Art, Culture & Heritage organisations have the highest salaries
http://www.tpp.co.uk/
020 7198 6000
RESPONSIBILITY FOR NON-FINANCE DEPARTMENTS
58% of Finance Directors have responsibilities for other disciplines, including IT, Compliance, Legal and Properties/Facilities Properties/Facilities and IT remains the most common extra responsibility from 2015 Further responsibilities mentioned include marketing, legacies, grants, admin and fundraising
25%
24% 17%
17%
16%
FUNCTIONS BY JOB LEVEL
19%
Accounting
12%
8%
23%
24%
15%
19%
Budgeting & forecasting
25%
11%
2% 1%
3%
5%
2% 2%
Manager
28%
10%
Accountant 41%
21%
Compliance
Head of 35%
20%
Business/Financial analysis
1% 2%
6%
Assistant 47%
23%
6%
19%
Financial planning & analysis
3% 0%
http://www.tpp.co.uk/
Officer
27%
21%
Financial management/Control
Director
41%
12%
5% 10%
37%
24%
20%
020 7198 6000
30%
40%
50%
QUALIFICATIONS
61% of respondents are fully qualified
21% are part qualified
18% are qualified by experience
30% hold an ACCA qualification
27% hold an ACA qualification
16% hold a CIMA qualification
INCENTIVES Benefits received
Results have stayed consistent from 2015, where pension contribution is the most commonly received benefit The average amount of holiday received is 26 days which has decreased from 27 in 2015.
http://www.tpp.co.uk/
020 7198 6000
Desired benefits
5. Life Insurance
2. Pension contributions 4. Time off / voluntary / trusteeships
1. Flexible working hours 3. Medical insurance
8. Childcare vouchers 7. Season ticket loans
6.Secondment /Sabbatical
9. Car allowance
This year, flexible working hours has overtaken pension contributions as the most desired benefit
SALARY CHANGE OVER THE PAST YEAR 46%
50%
41%
46% of respondents reported that their salaries stayed the same over the past year, while 46% saw an increase. In comparison to 2015 results which showed the largest percentage having a salary increase, 2016 shows that the majority of respondent’s salaries have stayed the same.
40% 30% 20% 10%
5%
5%
3%
0% Increased a lot
Increased a little
Stayed the same
Decreased a Decreased a little lot
“Charity sector needs to develop the same strategy as private sector, we are skilled professionals, not volunteers” “General pressure on the economy, but sector is still growing” “Finance professionals are wary of asking for more money whilst arguing for tight cost controls”
http://www.tpp.co.uk/
020 7198 6000
THINKING ABOUT YOUR PREVIOUS ROLE DID YOU WORK FOR?
This shows a similar trend between 2015 and 2016 results, which shows an increasing number of finance professionals moving from the private sector.
MOTIVATORS Our respondents were asked what would be their motivations for seeking a new role.
Most popular motivators
Higher salary
Better work/life balance
More interesting role
Better relationship with manager
Better job security
Least popular motivators Training & development opportunities
http://www.tpp.co.uk/
020 7198 6000
METHODOLOGY This is the second TPP finance salary survey for finance professionals in the not for profit sector. The salaries used in this report were compiled using information from 181 respondents from March-April 2016, and existing data from 216 database records during 2015-16. Responses came from the following profiles.
51% Female 15% Director
48% Male
13% Head of
1% Unknown
23% Business Partner 19% Manager
88% Permanent
18% Officer/ Advisor/ Executive
5% Temporary/ Interim
12% Assistant/Admin
6% Contract
ABOUT TPP RECRUITMENT
1% Unknown
TPP Recruitment is a specialist recruitment consultancy working with organisations in the non-profit sector, including charities, professional membership bodies and cultural institutions, as well as education, health and social care providers. Established in 1996, we use our experience, knowledge of the sector and shared values and principles to meet our clients’ recruitment needs. All our consultants are sector specialists, able to offer the best advice and service to both our candidates and clients. TPP`s divisions cover the full breadth of charity roles. TPP`s HR, Office & Specialist Team have both the experience and the expert knowledge of the not for profit sector needed to provide our clients with consistently high-quality HR professionals. We recruit candidates with a wide range of skills, to all levels of vacancy from Assistant to Director.
Contact us T:020 7198 6050
http://www.tpp.co.uk/
E: [email protected]
020 7198 6000
DATA TABLES Type of organisation
Organisation Type Assistant Animals Arts, Culture and Heritage Cancer £21,500 Children Disability £26,000 Education £32,000 Environment Health £26,550 Homelessness Hospices Housing £23,370 Human Rights International Aid Membership £27,500 Older People Other £24,733 Society & Work Sport Think tank/ Policy Unknown Grand Total £25,528
Officer £30,000 £25,000 £30,425
Accountant Manager £37,667 £38,500 £36,133
£30,000 £32,000
£29,000
£18,000 £32,291
£23,500 £26,000
£28,281
£33,000 £43,487 £37,500 £36,854 £43,000 £41,565 £56,000 £37,758
£37,667 £43,000 £42,860 £29,300 £34,730 £33,250 £47,417 £35,000 £36,125 £38,269 £35,057 £44,375 £37,000 £37,944
£51,200 £63,000 £39,800
Head of £41,544 £60,118 £65,000 £51,807
Director £65,000 £64,773 £50,250 £115,000
£107,000 £42,000 £53,550
£59,380
£42,934
£49,667 £46,500 £57,917
£71,139 £51,000 £62,927 £65,000 £63,500 £80,650 £62,500 £70,000 £51,000
£40,000 £54,000
£99,000
£54,422
£68,293
Type of role Level
Full time
Part time
Total Average
2015
Director
£68,024
£69,167
£68,293
£66,325
Head of
£54,764
£52,938
£54,422
Manager
£40,944
£35,351
£39,800
£44,858
Accountant
£38,672
£35,274
£37,758
£39,794
Officer
£29,630
£23,333
£28,281
£25,492
Assistant
£25,318
£26,685
£25,528
£25,573
Grand Total
£48,575
£47,079
£48,251
£49,315
http://www.tpp.co.uk/
020 7198 6000
Total Average £44,522 £50,377 £44,938 £48,914 £32,740 £48,022 £36,167 £47,067 £43,000 £51,228 £29,477 £42,543 £45,372 £62,732 £49,875 £47,694 £41,000 £42,000 £65,994 £59,500 £48,251
2015 £57,000 £50,786 £58,950 £49,684 £56,600 £49,234 £45,100 £48,828 £40,750 £55,000 £64,785 £51,362 £60,794 £53,250 £44,755 £36,750 £40,000 £32,400 £49,315
Gender Level
Female
Male
Total Average
2015
Director
£63,269
£70,386
£68,293
£66,325
Head of
£52,741
£56,326
£54,422
Manager
£39,194
£42,156
£39,800
£44,858
Accountant
£38,021
£37,640
£37,758
£39,794
Officer
£27,593
£30,000
£28,281
£25,492
Assistant
£26,284
£24,320
£25,528
£25,573
Grand Total
£43,095
£53,762
£48,251
£49,315
Type of contract
Level Director Head of Manager Accountant Officer Assistant Grand Total
Contract £54,000 £57,975 £39,210 £26,500 £21,000 £43,051
Permanent £68,269 £53,663 £39,861 £37,302 £29,285 £25,906 £48,723
Temporary/Interim £98,000 £65,000 £39,500 £41,253 £25,041 £46,205
Total Average £68,293 £54,422 £39,800 £37,758 £28,281 £25,528 £48,251
2015 £66,325 £44,858 £39,794 £25,492 £25,573 £49,315
Size of organisation Small (1-10 employees)
Medium (11 100 employees)
Large (100+ employees)
Director Head of Manager Accountant Officer
£60,000 £41,800 £36,324 £38,130 £30,000
£63,904 £51,495 £35,616 £35,247 £28,919
£74,748 £64,055 £44,008 £37,996 £27,250
Assistant
£28,750
£26,000
£24,837
Grand Total
£37,456
£48,640
£50,081
Level
http://www.tpp.co.uk/
020 7198 6000
Unknown
£63,000 £56,000
£59,500
Total Average
2015
£68,293 £54,422 £39,800 £37,758 £28,281
£66,325
£25,528
£25,573
£48,251
£49,315
£44,858 £39,794 £25,492
Our Divisions Education & Training Facilities Finance & Accountancy Fundraising & Development Healthcare HR IT Marketing & Communications Office & Specialist Support Regional Recruitment Social Care & Housing Senior Appointments
Head Office T: 020 7198 6000 E: [email protected]
4th Floor, Sherborne House 119-121 Cannon Street London EC4N 5AT
Small (NorthMedium (11 North Large & Scotland – FR & Marcomms roles) North Office of England, Wales (1-10 100 (100+ T: 0191 229 9595 Collingwood Buildings Level employees) employees) 2015 E: [email protected] 38 Collingwood Street employees) Unknown Grand Total Director £60,000Newcastle £63,904 £74,748 £68,293 £66,325 Upon Tyne NE1 1JF Head of £41,800 £51,495 £64,055 £54,422 South Office Central South, East Anglia£63,000 & South Wales£39,800 – FR & Marcomms roles) Manager £36,324(South West, £35,616 £44,008 £44,858 T: 0117 360 1317 Accountant £38,130CityPoint£35,247 £37,996 £56,000 £37,758 £39,794 E: [email protected] Temple Gate Officer £30,000 £28,919 £27,250 £28,281 £25,492 Bristol BS1 6PL Assistant £28,750 £26,000 £24,837 £25,528 £25,573 Grand Total
£37,456
http://www.tpp.co.uk/
£48,640
£50,081
020 7198 6000
£59,500
£48,251
£49,315
